The latest Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI) fell by 5.4 points in November, to 47.7 points (seasonally adjusted). This fall interrupted the promising run of mild expansion in the Australian PMI over the past two months (50 points marks the separation between expansion and contraction in the Australian PMI) and took the index back to its pre-election levels. The Australian PMI is again indicating varying degrees of contraction across the manufacturing sectors. U.S. retailers enjoyed a 2.3 percent sales gain over the critical Thanksgiving and Black Friday holiday time, in line with a prediction for the weakest holiday results since 2009. Sales at brick-and-mortar stores on Thanksgiving and Black Friday rose to $12.3 billion, according to a report yesterday from ShopperTrak a Chicago-based researcher who reiterated its prediction that sales for the entire holiday season will gain 2.4 percent, representing the smallest increase since the last recession. Sunday-Monday morning is a relatively quite opening for high impact news events, capital spending in Japan is predicted to rise by 3.1%. The HSBC final manufacturing PMI for China is expected to come in at 50.5. There is a raft of Australian data published overnight/early morning, with building approvals being the standout piece of data which is expected to fall to -4.3% from a positive 14.4% the previous month. Company operating profits are published for Australian companies. New Zealand's overseas trade index is expected in at 3.0%.http://blog.fxcc.com/market-analysis

Upwards scenario: Possibility of price appreciation is seen above the key resistance at 1.3622 (R1). Break here would open a route towards to our intraday targets at 1.3643 (R2) and 1.3664 (R3). Downwards scenario: An important technical level at 1.3580 (S1) prevents possible market weakening. Break here is required to open road towards to interim target at 1.3558 (S2) en route to final aim at 1.3537 (S3).

Upwards scenario: Fractal level at 1.6442 (R1) offers next resistive structure on the upside. If the price manages to overcome it, we would expect further appreciation towards to our initial targets at 1.6471 (R2) and 1.6499 (R3). Downwards scenario: On the hourly chart GBPUSD looks overbought and possibility of correction is high. Friday’s high offers key support level at 1.6385 (S1). Break here is required to enable our next targets at 1.6356 (S2) and 1.6327 (S3).

Upwards scenario: Price comfortably ranging on the hourly chart, however we see potential to overcome our next resistive barrier at 102.61 (R1) later on today. Any prolonged movement above it would suggest next intraday targets at 102.82 (R2) and 103.05 (R3). Downwards scenario: On the other hand, successful retest of our support level at 102.21 (S1) would clear the way for a recovery action towards to our lower targets at 102.00 (S2) and 101.78 (S3) in potential.